The CFPB has complied with Dodd-Frank’s requirements that the bureau take into account the impact its rules will have on small businesses, the Government Accountability Office reported Wednesday.
“The Consumer Financial Protection Bureau has taken steps to solicit, consider and incorporate inputs from small entities into its rulemaking process, as required by federal law,” the GAO said.
Credit union officials have said they believe the CFPB has done a poor job of taking small businesses into account when tailoring rules.
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